Latest Ratios: P/E Ratio 27.3x · EV/EBITDA 17.0x · ROE 17.9%. (2010–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.7B | $10.7B | $5.2B | $10.0B | $11.0B | $9.2B | $9.9B | $6.4B | $7.0B | $3.6B | $2.2B |
| Enterprise Value | $11.1B | $12.0B | $6.8B | $11.5B | $12.2B | $10.5B | $10.7B | $7.1B | $6.7B | $3.5B | $2.1B |
| P/E Ratio → | 27.28 | 29.67 | 20.39 | 33.17 | 42.03 | 33.13 | 79.88 | 36.29 | 46.52 | 35.29 | 30.65 |
| P/S Ratio | 2.05 | 2.24 | 1.33 | 2.80 | 3.57 | 3.24 | 5.02 | 3.44 | 4.46 | 2.82 | 2.20 |
| P/B Ratio | 4.47 | 4.86 | 2.86 | 6.30 | 8.07 | 8.24 | 11.17 | 8.37 | 11.31 | 7.87 | 6.63 |
| P/FCF | 23.67 | 25.88 | 48.50 | 60.65 | 174.51 | 232.33 | 59.43 | — | 98.79 | 36.23 | 35.53 |
| P/OCF | 16.62 | 18.17 | 12.01 | 19.98 | 34.89 | 28.16 | 26.92 | 34.00 | 37.78 | 21.55 | 20.60 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.51 | 1.76 | 3.24 | 3.95 | 3.68 | 5.45 | 3.85 | 4.30 | 2.73 | 2.12 |
| EV / EBITDA | 17.02 | 18.42 | 13.89 | 22.35 | 26.97 | 22.53 | 47.70 | 26.10 | 29.32 | 18.33 | 15.08 |
| EV / EBIT | 24.17 | 24.90 | 20.14 | 28.77 | 34.97 | 28.28 | 69.07 | 32.70 | 35.82 | 22.21 | 18.61 |
| EV / FCF | — | 29.06 | 63.97 | 70.13 | 193.00 | 263.38 | 64.50 | — | 95.22 | 35.09 | 34.30 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.0% | 32.0% | 34.9% | 35.8% | 35.6% | 36.2% | 33.2% | 36.5% | 36.2% | 36.3% | 35.7% |
| Operating Margin | 9.6% | 9.6% | 8.4% | 10.8% | 11.2% | 13.3% | 7.9% | 11.8% | 12.0% | 12.3% | 11.4% |
| Net Profit Margin | 7.5% | 7.5% | 6.5% | 8.5% | 8.5% | 9.8% | 6.3% | 9.5% | 9.6% | 8.0% | 7.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.9% | 17.9% | 14.9% | 20.4% | 21.1% | 27.9% | 15.0% | 25.5% | 27.9% | 25.9% | 24.9% |
| ROA | 7.3% | 7.3% | 6.2% | 8.4% | 8.4% | 10.7% | 5.8% | 12.0% | 18.2% | 17.1% | 16.1% |
| ROIC | 9.9% | 9.9% | 7.4% | 10.2% | 10.6% | 14.0% | 7.2% | 17.4% | 39.6% | 39.3% | 38.3% |
| ROCE | 11.2% | 11.2% | 9.6% | 13.1% | 13.8% | 18.2% | 8.9% | 18.8% | 30.4% | 34.4% | 33.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.93 | 0.93 | 1.10 | 1.10 | 1.10 | 1.16 | 1.26 | 1.25 | — | — | — |
| Debt / EBITDA | 3.13 | 3.13 | 4.03 | 3.37 | 3.32 | 2.80 | 4.95 | 3.48 | — | — | — |
| Net Debt / Equity | — | 0.60 | 0.91 | 0.98 | 0.85 | 1.10 | 0.95 | 0.98 | -0.41 | -0.25 | -0.23 |
| Net Debt / EBITDA | 2.01 | 2.01 | 3.36 | 3.02 | 2.58 | 2.66 | 3.75 | 2.74 | -1.10 | -0.59 | -0.54 |
| Debt / FCF | — | 3.18 | 15.47 | 9.47 | 18.49 | 31.05 | 5.08 | — | -3.58 | -1.13 | -1.23 |
| Interest Coverage | — | — | — | — | — | 106.47 | 89.17 | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.01 | 2.01 | 1.79 | 1.68 | 1.77 | 1.54 | 1.73 | 1.89 | 2.54 | 2.91 | 2.92 |
| Quick Ratio | 1.12 | 1.12 | 0.91 | 0.86 | 0.89 | 0.77 | 1.09 | 0.97 | 1.57 | 1.78 | 1.59 |
| Cash Ratio | 0.98 | 0.98 | 0.70 | 0.64 | 0.66 | 0.58 | 0.94 | 0.74 | 1.33 | 1.49 | 1.32 |
| Asset Turnover | — | 0.86 | 0.89 | 0.92 | 0.93 | 0.99 | 0.85 | 0.94 | 1.64 | 1.84 | 2.00 |
| Inventory Turnover | 3.83 | 3.83 | 3.83 | 3.91 | 3.75 | 3.99 | 4.66 | 3.62 | 4.08 | 4.36 | 4.17 |
| Days Sales Outstanding | — | — | 0.44 | 0.50 | 1.06 | 1.45 | 1.18 | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 3.4% | 4.9% | 3.0% | 2.4% | 3.0% | 1.3% | 2.8% | 2.1% | 2.8% | 3.3% |
| FCF Yield | 4.2% | 3.9% | 2.1% | 1.6% | 0.6% | 0.4% | 1.7% | — | 1.0% | 2.8% | 2.8% |
| Buyback Yield | 0.0% | 0.0% | 0.9% | 1.0% | 0.4% | 0.7% | 0.2% | 0.7% | 0.1% | 0.0% | 0.1% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.9% | 1.0% | 0.4% | 0.7% | 0.2% | 0.7% | 0.1% | 0.0% | 0.1% |
| Shares Outstanding | — | $56M | $55M | $56M | $56M | $56M | $56M | $56M | $56M | $56M | $55M |
Inventory obsolescence and tariffs
Based on recent market data, FIVE trades at a forward P/E of 29.55, which appears to price in significant long-term unit expansion rather than the immediate, seasonally-constrained earnings volatility observed in the company's historical financial filings over the past ten quarters.
The current valuation multiple suggests investors are looking past the cyclical Q3 troughs to the high-growth potential of the 'Five Beyond' initiative. However, the PEG ratio of 1.21 warrants caution, as it implies that any deceleration in store-opening velocity could lead to a sharp contraction in the current valuation premium.
As reported in quarterly financial statements, FIVE's ROIC has fluctuated significantly, peaking at 6.7% in 2023Q4 before compressing to 3.2% in 2026Q1, highlighting the inherent difficulty in maintaining high returns on invested capital during non-peak periods of the retail calendar.
The volatility in ROIC suggests that the company's capital allocation is highly sensitive to inventory turnover speed. Investors should monitor whether the 'Five Beyond' rollout can sustain higher margins to offset the capital intensity required for new store builds in increasingly competitive suburban markets.
According to recent SEC filings, FIVE's inventory turnover metrics show a distinct seasonal pattern, with DIO reaching 127 days in 2025Q3, which underscores the company's reliance on massive inventory accumulation ahead of the critical fourth-quarter holiday selling season.
The wide variance in the cash conversion cycle suggests that the company's working capital efficiency is structurally tied to its ability to predict and stock trend-based merchandise. Any failure to clear this inventory effectively could lead to margin-eroding markdowns that would impair the company's overall operational efficiency.
As noted in industry research, the P/S ratio is frequently misapplied to FIVE, as it obscures the company's reliance on high-frequency, low-margin discretionary trends rather than the stable, essential-staple revenue streams characteristic of traditional discount retailers like Dollar General.
Using a standard discount-retailer valuation framework ignores the 'treasure hunt' psychological anchor that drives FIVE's traffic. Analysts should instead focus on comparable store sales growth and average ticket size, as these metrics better capture the brand's unique exposure to Gen Z and Alpha consumer trends.
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying FIVE stock.
Five Below, Inc.'s current P/E ratio is 27.3x. The historical average is 40.0x. This places it at the 8th percentile of its historical range.
Five Below, Inc.'s current EV/EBITDA is 17.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.7x.
Five Below, Inc.'s return on equity (ROE) is 17.9%. The historical average is 24.8%.
Based on historical data, Five Below, Inc. is trading at a P/E of 27.3x. This is at the 8th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Five Below, Inc. has 32.0% gross margin and 9.6% operating margin.
Five Below, Inc.'s Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.